BUSINESS COLLEGE

Dextra Computing sells merchandise for $6,000 cash on September 30 (cost of merchandise is $3,900). Dextra collects 5% sales tax. 1. Record the entry for the $6,000 sale and its sales tax.
2. Record the entry that shows Dextra sending the sales tax on this sale to the government on October 15.
3. Record the cost of Sept. 30th sales.
4. Record the entry that shows the remittance of the 5% tax on this sale to the state government on October 15.
5. Record the cash sales and 3% sales tax.

Answers

Answer 1

Answer:

Answer:

Sept - 30

DR Cash $6,300

CR Sales $6,000

CR Sales Tax $300

(To record Cash sales and Tax Payable)

Working

Sales Tax = 6,000 * 5%

= $300

Oct - 15

DR Sales Tax Payable $300

CR Cash $300

(To record remittance of Sales Tax to the State Government)

Sept - 30

DR Cost of Goods Sold $3,900

CR Merchandise Inventory $3,900

(To transfer inventory to Cost of Goods sold)

4. Repeat question for question 2.

5. Repeat question for question 1.

Answer 2

Answer:

1. Dr. Cash $6300

Cr. Sales $6000

Cr. Sales tax $300

(Being the cash sales and tax payable recorded.)

2. Oct 15

Dr. Sales Tax Payable $300

Cr. Cash $300

(Being remittance of Sales Tax to the State Government is recorded)

Sept. 30

Dr. Cost of Goods Sold $3,900

Cr. Merchandise Inventory $3,900

(Being transfer of inventory to Cost of Goods sold is recorded)

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Answers

Answer:

Instructions are below.

Explanation:

We weren't provided with enough information to answer the requirements. But, I will provide the formulas.

1) Contribution margin:

CM= selling price - unitary variable cost

2) contribution margin ratio:

contribution margin ratio= contribution margin / selling price

3) break-even point in units

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Break-even point (dollars)= fixed costs/ contribution margin ratio

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Answers

Answer:

a. $5,100

Explanation:

Raw materials used in production = Beginning raw materials inventory + Raw materials purchases - Ending raw materials inventory

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Answers

Answer:

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Explanation:

The computation of the balance of the cash account after posting of these transactions are shown below:

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Answers

Answer and Explanation:

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Answers

Answer:

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Answers

Answer:

The correct answer is

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